The Hebrew text says quite simply that the various nations mentioned acknowledge, or will acknowledge, Yahweh, and they are counted as belonging to the people of God. This may have been the intention of the author (see 86.9); or else the text means that Yahweh includes all Jews who live in those countries, the Jews of the Diaspora (Dispersion); or else it means that the people in those countries who have converted to Judaism (proselytes) are included among God’s people. Whatever interpretation, the translator should give either the names of the countries, or else their inhabitants, with no further restrictive description.
Translations vary on the time references of the verbs in verse 4: Good News Translation, New Jerusalem Bible, New International Version, and Dahood have the future; Revised Standard Version, Bible de Jérusalem, Traduction œcuménique de la Bible, Bible en français courant, New Jerusalem Bible, and Biblia Dios Habla Hoy have the present. Translators should follow the best tense or mode that fits the local language.
Revised Standard Version shows the form of the Hebrew text. The meaning of the first two lines is fairly clear; those who know me designates people who worship, obey, serve Yahweh (New English Bible “my friends”; New Jerusalem Bible, New Jerusalem Bible “those who acknowledge me”).
“Egypt” translates Rahab, a poetic name for the country (see Isa 30.7). The use of this name recalls Egypt as the monster that devoured Israel (see 89.10). For Ethiopia see comments at 68.31.
The third line of the verse is obscure; the Hebrew text says simply This one was born there, without any indication of who This one is or where there is; nor does the Hebrew have they say of Revised Standard Version. Good News Translation takes the text to mean that the people born in those countries are listed as having been born in Jerusalem, so that they are full-fledged citizens, belonging to the people of God. One possible version is “will be reckoned as citizens of Zion”; Biblia Dios Habla Hoy “all of them were born in you” (that is, Jerusalem).
It is possible, as some do, to take this verse to mean that the people of those countries were all born in those countries (so Bible en français courant); but of all it will be said “They were born in Zion” (verse 5). In either case the meaning is the same. The Septuagint has in verse 5 “Everyone will say, ‘Zion is our mother.’ ” It is possible that Paul had this passage in mind when writing Galatians 4.26.
Quoted with permission from Bratcher, Robert G. and Reyburn, William D. A Handbook on the Book of Psalms. (UBS Helps for Translators). New York: UBS, 1991. For this and other handbooks for translators see here .